News

Swedish GDP Growth Revised Slightly Down
Sweden's gross domestic product advanced 0.8 percent from the previous quarter in the three months to March of 2021, revised down from a 1.1 percent expansion previously estimated. Household final consumption increased by 0.5 percent, mainly driven by spending on transports; and general government consumption rose by 0.4 percent. Meanwhile, fixed investment decreased by 0.1 percent. At the same time, net exports had a limited effect on GDP growth, as exports (1.3 percent) rose less than imports (1.4 percent). Changes in inventories contributed to GDP growth by 0.5 percentage points. Year-on-year, the GDP was unchanged, after contracting 2.2 percent in the prior quarter and matching an earlier estimate.
Published on 2021-05-28

Swedish Economy Rebounds More Than Expected
Sweden's gross domestic product advanced 1.1 percent from the prior quarter in the three months to March 2021, rebounding from a 0.2 percent contraction in the previous period and beating market expectations of a 0.5 percent gain, a preliminary estimate showed. The Swedish Statistics agency noted the economy is now back at roughly the same level of the previous year, driven by a strong growth in March. Year-on-year, output was unchanged, after edging down 0.2 percent in the prior quarter and compared to market consensus of a 1.3 percent fall.
Published on 2021-04-29

Swedish GDP Figures Revised Lower
Sweden's gross domestic product shrank by 0.2 percent from the previous quarter in the three months to December 2020, revised down from a 0.5 percent expansion previously estimated. Household consumption declined by 0.8 percent, amid lower housing expenses a fall in consumption of hotel and restaurant services, while government spending was unchanged and fixed investment edged up 0.1 percent, mainly due to growing investments in total machinery and equipment including weapon systems. In addition, net exports contributed upwards to GDP growth by 0.8 percentage points as exports rose more than imports, while changes in inventories contributed downwards to GDP growth by 0.7 percentage points. Year-on-year, the economy contracted 2.2 percent in the fourth quarter. Considering 2020 full year, the GDP shrank 2.8 percent.
Published on 2021-02-26

Swedish Economy Slows More than Expected in Q4
Sweden's gross domestic product grew by 0.5 percent on quarter in the three months to December 2020, easing from a 4.9 percent expansion in the previous period and missing market expectations of a 0.7 percent gain, a preliminary estimate showed. Year-on-year, the economy shrank by 2.6 percent, following a 2.5 percent drop in the prior quarter and compared to market consensus of a 2.3 percent fall. Considering full 2020, the economy contracted 2.8 percent, much better than forecast from the central bank of a decline of 4.0 percent.
Published on 2021-02-01

Swedish Q3 GDP Rebound Revised Higher
Sweden's gross domestic product grew by 4.9 percent in the three months to September 2020, more than a 4.3 percent rebound previously estimated and following a historic slump of 8.0 percent seen in the second quarter. Household consumption increased by 6.3 percent, mainly driven by spending on transports, as well as hotel and restaurant services; and fixed investment advanced by 2.4 percent, boosted by investment in machinery and equipment. At the same time, net exports contributed upwards to GDP growth by 1.1 percentage points, as exports rose by 11.2 percent and imports by a softer 9.2 percent. General government consumption expanded by 2.0 percent as consumption in local and regional governments grew by 2.7 percent. Year-on-year, the economy shrank by 2.5 percent, compared to preliminary estimates of a 3.5 percent contraction.
Published on 2020-11-27

Swedish Economy Rebounds in Q3
Sweden's gross domestic product grew by 4.3 percent in the three months to September 2020, trying to recover from the historic slump of 8.6 percent seen in the second quarter, a preliminary estimate showed. This upswing means that the Swedish economy has recovered roughly half of the sharp contraction in the second quarter largely due to rising exports of goods. Year-on-year, the economy shrank by 3.5 percent in the third quarter, easing from a record contraction of 8.2 percent in the previous period.
Published on 2020-11-05

Sweden Posts Historic GDP Decline in Q2
Sweden's gross domestic product shrank by 8.3 percent in the three months to June 2020, the steepest contraction since records began in 1981 and compared to a preliminary estimate of an 8.6 percent slump. Household consumption decreased by 7.7 percent led by lower spending on restaurant and hotel services, as well as lower household consumption abroad, while fixed investment dropped by 4.5 percent mainly explained by reduced investments in machinery and equipment. Public spending also declined by 2.4 percent and net external demand contributed negatively to the GDP as exports tumbled by 18.2 percent and imports decreased by 12.9 percent.
Published on 2020-08-28

Swedish GDP Contracts at Record Pace
The Swedish GDP shrank 8.6 percent on quarter in the three months to June of 2020, down from a 0.1 percent expansion in the previous period, a preliminary estimate showed. It was the biggest contraction on record, as the economy was hit by the coronavirus pandemic despite not imposing coronavirus lockdowns. Many people were following social-distancing recommendations and limiting travel. On a year-on-year basis, the economy contracted 8.2 percent, also a record, and following a 0.4 percent growth in Q1.
Published on 2020-08-05

Swedish Economy Avoids Contraction in Q1
The Swedish GDP grew 0.1 percent on quarter in the first three months of 2020, compared to an initial estimate of a 0.3 percent contraction and beating market forecasts of a 0.6 percent drop. The country did not impose a coronavirus lockdown but many people were following social-distancing recommendations and limiting travel. Household consumption decreased by 1.7 percent, mainly due to transports and consumption abroad. Public expenditure fell 0.3 percent, investment shrank 0.9 percent and changes in inventories impacted GDP growth negatively by 0.5 percentage points. In contrast, exports increased by 3.4 percent and imports decreased by 0.2 percent. Overall, net exports contributed upwards to GDP growth by 1.7 percentage points. On a year-on-year basis, the economy advanced 0.4 percent. The government expects the economy to shrink around 7% this year and already launched a stimulus package worth around SEK 245 billion to boost the recovery.
Published on 2020-05-29

Swedish GDP Contracts 0.3% in Q1
Sweden's economy contracted 0.3 percent on quarter in the first three months of 2020, following a downwardly revised 0.1 percent expansion in the previous period, a preliminary estimate showed. Exports contributed positively to GDP, while decreases in gross fixed capital formation and changes in inventories weighed down growth. The contraction is expected to deepen in the April-June period when the full effects of the coronavirus outbreak will be felt. Sweden did not follow other European countries with a complete lockdown. The country closed down relatively late and a little less strictly than in other countries.
Published on 2020-05-05

Sweden GDP Growth Matches Forecasts at 0.2%
The Swedish economy expanded 0.2% on quarter in Q4 2019, following an upwardly revised 0.4% growth in Q3 and matching market expectations. Household spending was the main driver of growth (0.7%), namely consumption of transports, including vehicles. Also, government consumption remained largely unchanged; changes in inventories contributed to GDP growth by 0.2 percentage points; and gross fixed capital formation shrank 0.4%, mainly due to reduced investment in machinery and equipment. Meanwhile, exports decreased by 1.7% and imports decreased by 1.2%, resulting in a 0.3 percentage point drag from net trade. Year-on-year, the economy expanded 0.8%, well below 1.8% in Q3. Considering full 2019, the economy advanced 1.2%
Published on 2020-02-28

Swedish Q3 GDP Growth Beats Forecasts
Sweden’s GDP expanded 0.3 percent on quarter in the three months to September 2019, accelerating from an upwardly revised 0.2 percent advance in the previous period and above market expectations of 0.2 percent. Government expenditure (0.2 percent vs -0.2 percent in Q2) and gross fixed capital formation (0.5 percent vs -0.9 percent) rebounded while household consumption slowed (0.4 percent vs 11 percent). Also, net foreign demand contributed positively to growth, as exports climbed 1.4 percent (vs 0.5 percent in Q2) while imports rose at a softer 0.8 percent (vs 0.6 percent). Year-on-year, the GDP grew 1.6 percent, well above a 1 percent gain in Q2 but below market consensus of 1.8 percent.
Published on 2019-11-29

Swedish Q2 GDP Growth Revised Up to 0.1%
The Swedish economy advanced 0.1 percent on quarter in the three months June 2019, higher than a preliminary estimate and market expectations of a 0.1 percent contraction, the same pace in the previous period, final figures showed. Household consumption increased 1.1 percent (vs -0.3 percent in Q1) while government spending shrank 0.1 percent (vs 0.3 percent in Q1) and gross fixed capital formation declined 1.0 percent (vs -0.3 percent in Q1), mainly due to reduced investments in housing. Changes in inventories contributed to GDP growth by 0.1 percentage points. Meantime, net external demand contributed negatively, as exports remained unchanged (vs 0.9 percent in Q1) while imports rose 0.3 percent (vs -0.4 percent in Q1). Year-on-year, the economy grew 1 percent, lower than a preliminary estimate and consensus of a 1.4 percent expansion and easing from a downwardly revised 1.5 percent in the first quarter of the year.
Published on 2019-09-13

Swedish Economy Unexpectedly Contracts in Q2
Sweden's GDP contracted 0.1 percent in the second quarter of 2019, following a downwardly revised 0.5 percent expansion in the previous three-month period and missing market expectations of a 0.3 percent growth, a preliminary estimate showed. Gross fixed capital formation shrank 1.1 percent (vs -0.7 percent in Q1) and government spending declined 0.1 percent (vs unchanged in Q1), while household consumption rebounded firmly by 0.6 percent (vs -0.1 percent in Q1). Meanwhile, net external demand contributed positively as imports dropped 0.5 percent (vs -1 percent in Q1) and exports decreased at a slower 0.3 percent (vs 0.7 percent in Q1). Year-on-year, the economy grew 1.4 percent, also missing market consensus of 1.9 percent.
Published on 2019-07-30

Swedish GDP Growth Rate Slows to 0.6% QoQ in Q1
The Swedish economy grew 0.6 percent on quarter in the three months to March 2019, slowing from a 1.2 percent expansion in the previous period but beating market expectations of a 0.2 percent gain. Government spending grew much less (0.1 percent vs 0.4 percent in Q4) while both household consumption (-0.2 percent vs 0.6 percent) and fixed investment (-0.4 percent vs 1.1 percent) decreased. Changes in inventories provided no significant contribution to GDP growth in the first quarter. Meanwhile, net external demand contributed positively to growth, as exports rose (0.8 percent vs 3.1 percent in Q4) while imports fell (-0.7 percent vs 2.3 percent in Q4). Year-on-year, the GDP advanced 2.1 percent compared with a 2.4 percent growth in Q4 and market consensus of 1.7 percent.
Published on 2019-05-29

Swedish GDP Growth Accelerates to 1-1/2-Year High
The Swedish economy grew 1.2 percent on quarter in the three months to December 2018, recovering from a 0.1 percent contraction in the previous period and easily beating market consensus of 0.6 percent. It was the strongest pace of expansion since the second quarter of 2017 buoyed by solid increases in household consumption, government spending and exports, as well as a positive contribution from inventory changes.
Published on 2019-02-28

Swedish Economy Contracts For 1st Time Since 2013
The Swedish economy shrank 0.2 percent on quarter in the three months to September 2018, following a downwardly revised 0.5 percent expansion in the previous period and below market expectations of a 0.3 percent growth. It was the first contraction since the second quarter of 2013, as household consumption declined while government spending showed no growth.
Published on 2018-11-29

Swedish GDP Growth Revised Down to 0.8% in Q2
The Swedish economy expanded 0.8 percent on quarter in the three months to June 2018, lower than a 1 percent growth in the preliminary estimate, following a downwardly revised 0.5 percent expansion in the previous period and below market expectations of 1 percent, final figures showed. It was the strongest growth since the second quarter of 2018, driven by household consumption and government spending.
Published on 2018-09-13

Swedish Q2 GDP Growth Beats Forecasts
The Swedish economy advanced 1 percent on quarter in the three months to June 2018, easily beating market expectations of 0.5 percent and following an upwardly revised 0.8 growth in the previous period, a preliminary estimate showed. It was the strongest pace of expansion since the second quarter of 2017, mainly boosted by household consumption, government spending and net trade.
Published on 2018-07-30

Swedish GDP Grows 0.7% QoQ in Q1
The Swedish economy advanced by 0.7 percent on quarter in the first three months of 2018, the same pace as in the previous three-month period and above market expectations of a 0.5 percent rise. Household consumption rose faster and fixed investment rebounded.
Published on 2018-05-30